Norway’s Scapa Baltic’s net profit decrease 13% in 2016

OSLO: Norway’s Scapa Baltic’s net profit decreased by 13 per cent to €72,300, the Kaunas-based company said in its report for the financial year ended Aug. 31, 2016 filed with the Center of Registers.

Sales to EU countries last year accounted for 93% of Scapa Baltic’s total sales, of which 72.5%t went to Sweden. The largest increase was in sales to Norway.

Scapa Baltic, which is 100% owned by Sweden’s Scapa Inter, employed 610 people on average in the last financial year, up from 578 a year earlier.

Scapa Baltic, a Swedish-owned Lithuanian company that manufactures soft leather and tapestry furniture for the Scandinavian market, posted €36.176 million in revenue for the last financial year, up 1.5% from €35.651 million a year earlier.